ACQUISITION EXPANDS LOGISTICS NETWORK IN ENGLANDCopenhagen, 2014-07-01 13:30 CEST --
Announcement no. 45
As part of DFDS’ strategy to develop the Group’s logistics network and benefit from increased scale, DFDS has today acquired 100% of the share capital of Quayside Group headquartered in Grimsby, England.
“Quayside is a company we have known and respected for a number of years and we are delighted to welcome them into the DFDS Group,” says Eddie Green, Executive Vice President, DFDS Logistics.
Quayside Group
Since 1997, Quayside Group has provided temperature controlled logistics services to various producers and suppliers of fresh and frozen food products. In 2012/2013, Quayside Group recorded revenues of GBP 23.5m (DKK 212m). The company has 260 employees.
In Grimsby, Quayside Group operates the company’s two primary warehouses, one of which is owned. Distribution services are carried out by own drivers and an owned fleet of around 200 tractor units and trailers.
Strategic fit
The acquisition of Quayside Group adds temperature controlled warehousing and distribution capabilities in England to DFDS’ similar existing activities in Scotland. The scope of DFDS’ customer services will be considerably improved by the merged activities and also offer opportunities to gain synergies.
The acquisition is expected to support DFDS’ goal of a 10% return on invested capital.
Impact on the DFDS Group’s outlook for 2014
Following the acquisition, the expected revenue growth versus 2013 for the DFDS Group is increased to around 7% from previously 6%. Quayside Group is consolidated in DFDS’ consolidated financial statements from 1 July 2014 where control is obtained.
The expectation for the DFDS Group’s EBITDA before special items is unchanged DKK 1,250-1,400m.
Expected investments for the DFDS Group in 2014 are increased to DKK 1,200m from previously DKK 1,100m.
Contact persons
Niels Smedegaard, CEO
+45 33 42 34 00
Torben Carlsen, CFO
+45 33 42 32 01
Søren Brøndholt Nielsen, IR
+45 33 42 33 59
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